Malaysia surpasses RM1 billion trade, investment target at Astana Expo 2017

ASTANA, Kazakhstan: Having secured more than US$ 1.6 billion ( US$ 1 = RM4.29) in potential trade and investments, Malaysia has surpassed the target of RM1 billion set for the Astana Expo 2017, and within just the first three weeks of the event.

Energy, Green Technology and Water Ministry Deputy Secretary- General Datuk Dr Tan Yew Chong said Malaysia had adopted a high impact approach by using advanced technologies at the Malaysian Pavilion of the Expo to convince potential investors.

“We are confident of drawing more investments by the end of the three-month Expo which began on June 10,” he added.

Tan was speaking at a media conference in conjunction with the launch of the “Green Innovation Week” exhibition at the Malaysia Pavilion of the Astana Expo here yesterday.

Earlier, Science, Technology and Innovation (MOSTI) Minister Datuk Seri Panglima Wilfred Madius Tangau and Malaysian Ambassador to Kazakhstan, Syed Mohamad Bakri witnessed the exchange of four memorandums of understanding ( MoUs) worth US$ 50.25 million on green technology, between Malaysian and foreign companies.

The MoUs involved Nusantara Associates Ltd Liability Partnership ( LLP) Kazakhstan and Free The Seed Sdn Bhd for US$ 30 million and a US$ 20 million deal between Nusantara and Ronser Biotech Bhd.

“The two other agreements, with a combined value of US$ 250,000 was between iCycle Sdn Bhd and Guangzhou Tianhe district and iCycle and India’s Kerala state,” said Madius.

He pointed out that the MoUs are testament to Malaysia’s leadership in green growth innovation.

“The MoUs will also promote impactful recycling resources which are seen as grassroot and social innovations in Malaysia,” he added. — Bernama